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Ma'am, if there is event that indicate material uncertainty that cast significant doubt on the entity's ability to continue as going concern, then how do we determine that whether that event is pervasive ?

Swathi Krishna

CA Final

★ 8K+

24-Feb-24 20:34

Answers (1)

Event cant be pervasive. Pervasive is a term used for a misstatement. Any event which affects going concern, that means the assumption used for preparation of FS is wrong. that will impact overall financial statements. It will have pervasive impact